Wakala Fee definition

Wakala Fee means a fee to be paid by Muwakkil to Wakil for service rendered hereunder, as agreed between the parties on a case by case basis.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Wakala Fee means a fee to be paid by Muwakkil to Wakil for the services rendered hereunder, as set out in Schedule 1 hereof.

Wakala Fee means a fee to be paid by Muwakkil to Wakil for service rendered hereunder, as agreed

Examples of Wakala Fee in a sentence

This account is credited by the Contributions paid by the Policyholders and returns of their investments and debited by claims, reinsurance Contributions, the necessary provisions and reserves and the Wakala Fee.
The Performance fee shall be taken by the Wakeel solely in circumstances where the Actual Wakala Profit is in excess of the Anticipated Investment Return plus the Wakala Fee.
The Performance fee shall be taken by the Muwakkil solely in circumstances where the Actual Investment Return is in excess of the Anticipated Investment Return plus the Wakala Fee.
This account is credited by the contributions paid by the Policyholders and returns of their investments and debited by claims, reinsurance Contributions, the necessary provisions and reserves and the Wakala Fee.

More Definitions of Wakala Fee

Wakala Fee means the Wakala Fee deducted by the Company from the Contributions that is defined in the Schedule, which is subject to change by the Company at the commencement of each new fiscal year, as will be published in the Company’s branches.